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Mises SA Articles- Say’s Law, Credit Expansion & the Business Cycle March 14, 2014
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Fraud. Why the Great Recession?
Watch this crowdfunded documentary produced by Austrian school economist Jesus Huerta de Soto, author of "Money, Bank Credit, and Economic Cycles," on what caused the Great Recession. Click to watch it free online.
Category Archives: Russell Lamberti
The Born Again Jobs Scam: The Ugly Truth Behind “Jobs Friday”
by David Stockman The mainstream recovery narrative has an astounding “recency bias”. According to all the CNBC talking heads, the 192,000 NFP jobs gain reported on Friday constituted another “strong” report card. Well, let’s see. Approximately 75 months ago (December 2007) at the cyclical peak before … Continue reading
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Mises and the Diminished A Priori
Excellent piece by David Gordon at Mises.org regarding Rothbard’s and Machlup’s differing interpretations of Mises’ methodological approach to economic theory (the a priori aspect of Mises’ praxeology). In “Mises and the Diminished A Priori“, Gordon assesses recent claims (cited by Peter Boettke) by Gabriel … Continue reading
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Tagged a priori, Austrian economics, Boettke, Machlup, methodology, mises, praxeology, Rothbard
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Regulatory Meddling in the Credit Industry Never Ends Well
Yesterday, Tuesday the 1st of April 2014, marked the day when “credit amnesty” kicked in for millions of South Africans. The dispensation requires credit bureaus by law to expunge consumer credit history on accounts that had been in default and … Continue reading
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Tagged credit, credit amnesty, efficiency, information, malinvestment, regulation, South Africa
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Anatomy of a Real Recovery
Austrian Business Cycle Theory (ABCT) has been criticised for 1) misrepresenting the true nature of the boom and reasons for the bust, and 2) for not offering constructive solutions to generate a recovery. Point 1 is the subject of much … Continue reading
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Latest Quarterly Journal of Austrian Economics
Here are the article summaries and links to full papers in the latest QJAE. The Marginal Efficiency of Capital Edward W. Fuller ABSTRACT: The purpose of this paper is to explain the marginal efficiency of capital. The net present value diagram … Continue reading
Fiat Money and Business Cycles in Emerging Markets
Roger McKinney has a good piece over at Mises.org. It is useful because it describes very simply how Fed policy with the world’s reserve currency can internationalise the business cycle. This is relevant in particular for our African and South African … Continue reading
Posted in Russell Lamberti
Tagged ABCT, Africa, business cycle, capital controls, Dollar, exchange rates, Federal Reserve, malinvestment, monetary policy
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If Malema isn’t Pol Pot, is he still dangerous?
by Ivo Vegter In last week’s column, I recalled that “agrarian reform”, as advocated by Julius Malema, evoked a phrase associated with Cambodia’s murderous tyrant, Pol Pot. The comments raised a pertinent question. Was I saying Malema is a genocidal … Continue reading
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South Africa’s Great De-industrialisation
The bell tolls for South Africa’s industrial backbone as yet another factory will be wound down and retired due to a lack of competitiveness and tough operating conditions that are rendering it unviable. Last week BDLive ran a story about … Continue reading
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Francois Hollande, Say’s Law & ABCT
Per Bylund on Twitter a few weeks back flagged some recent commentary by Professor Steven Kates on Say’s Law. I found Kates’ comments fascinating and I certainly think Say’s Law and its derivatives offers extremely fruitful analytical and theoretical opportunities … Continue reading
Posted in Russell Lamberti
Tagged ABCT, business cycle, demand, economic history, keynes, Say's Law, supply
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The Currency War for Dummies
I wrote this piece in early 2013, but it’s worth dusting off. Doesn’t age much. The world is in a currency war. What is that? It’s when governments devalue their currencies in order to protect domestic industries against foreign competition. … Continue reading
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